TextLabels/TextButtons support BBCode (or similar)

There have been a number of threads posted about supporting multiple colors, bold text, etc. in TextLabels and TextButtons.

Are there any technical issues with making TextLabels/TextButtons use a form of BBCode to modify text, independently of their properties (or perhaps replacing those properties)?

Maybe a new object class should be designed? BBLabel or BBCodeLabel

Thoughts? Anyone?

I’d like to see the technological limitations of this from an admin’s perspective. I assume it’s easy enough to do.

DIY: Do it yourself! Should be fun.
I already did something with colors:

I greatly support this. I’ve been working on a Chat GUI recently and it made me really wish that this was a thing. Handling tons of labels just for multiple colors can be tricky.

If I have time, I’ll edit my thingt to support BBCode-like stuff (and open-source it)

I’m bored anyways, and this seems like a fun small project